Strategy buys 1,550 BTC for $101M, treasury at 845,256 BTC
Strategy bought 1,550 BTC for about $101 million June 1–7, raising its corporate treasury to 845,256 BTC after a May sale of 32 BTC that covered STRC dividends.
Strategy, the company formerly known as MicroStrategy, acquired 1,550 Bitcoin for about $101 million between June 1 and June 7, taking its corporate bitcoin treasury to 845,256 BTC.
The company sold 32 BTC between May 26 and May 31 at an average price of $77,135, raising roughly $2.5 million. An 8-K filing states those proceeds were used to cover dividends on STRC preferred shares. Netting the sale and the purchase, Strategy increased its holdings by 1,518 BTC; the 32-coin disposal represented about 0.0038% of the treasury.
Strategy funded the purchase mainly through at-the-market equity sales, generating roughly $181 million in net proceeds from the sale of about 1.41 million shares. The firm also raised its cash reserve by $100 million to $1 billion during the period.
The treasury’s blended cost basis for bitcoin is $75,680 per coin. Bitcoin traded near $63,148 on Monday, leaving the holdings at a paper loss relative to that cost basis.
The May sale coincided with a decline in the company’s share price. Michael Saylor posted the company’s orange-dots chart and confirmed the purchase, writing: “Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to 845,256 BTC.” Co-CEO Phong Le restated the corporate goal to increase net Bitcoin and Bitcoin per share over time, adding “Rumors otherwise are just rumors.”
Strategy remains the largest corporate holder of bitcoin by a wide margin. STRC shareholders recently completed a vote on shifting to semi-monthly dividends; if approved, the first payment under the new schedule could be made on July 15.
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